Global Organic Fertilizer Market Is Estimated To Witness High Growth Owing To Increasing Demand For Environment-friendly Farming Practices

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Global Organic Fertilizer Market Is Estimated To
Witness High Growth Owing To Increasing Demand
for Eco-friendly Agricultural Practices
Organic Fertilizer Market The global organic
fertilizer market is estimated to be valued at
USD 11.94 billion in 2023 and is expected to
exhibit a CAGR of 5.90 over the forecast period
2023-2028, as highlighted in a new report
published by Coherent Market Insights. A)
Market Overview Organic fertilizers are derived
from natural sources such as plants,
animals,and minerals. They provide essential
nutrients to the soil, enhance soil fertility,
and promote plant growth. These fertilizers are
widely used in organic farming practices due to
their eco-friendly and sustainable nature.
Additionally, organic fertilizers help in
improving soil health and mitigating harmful
environmental
impacts caused by chemical fertilizers. The
demand for organic fertilizers is
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increasing as consumers are becoming
more conscious about the environmental
and health hazards associated with chemical
fertilizers. B) Market Dynamics The Organic
Fertilizer Market is driven by various factors.
One of the major drivers is the increasing
consumer preference for organic and
chemical-free food products. Consumers are
becoming more aware of the harmful effects of
chemical fertilizers on their health and the
environment. This has led to a shift towards
organic farming practices and an increased
demand for organic fertilizers. Another
driver for the market is the growing
adoption of sustainable agricultural
practices. Organic fertilizers help in
maintaining soil fertility and promoting
long-term soil health. They also reduce the
risk of groundwater pollution and improve crop
yield and quality. These benefits have led to the
widespread adoption of organic fertilizers by
farmers across the world. Segment Analysis The
global organic fertilizer market can be segmented
on the basis of product type, application, and
region. Based on product type, the market can be
further categorized into animal-based,
plant-based, and mineral-based organic
fertilizers. Among these, the plant-based segment
dominates the market as they are easily available
and provide a wide range of nutrients to the
soil. PEST Analysis Political Increasing
government initiatives to promote organic
farming practices and provide subsidies to
farmers for the adoption of organic
fertilizers are driving the Organic Fertilizer
Market. Economic The rising demand for organic
food products and the increasing disposable
income of consumers in developing nations
are fueling market growth. Social Growing
consumer awareness regarding the harmful effects
of chemical fertilizers and the growing
preference for organic and chemical-free food
products are key factors driving the market.
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• Technological Advancements in technology have
  led to the development of innovative organic
  fertilizers with enhanced nutrient content and
  improved efficacy, driving market growth.
• Key Takeaways
• The global organic fertilizer market is
  expected to witness high growth, exhibiting a
  CAGR of 5.90 over the forecast period, due to
  increasing demand for eco-friendly agricultural
  practices.
• The Asia-Pacific region is the fastest-growing
  and dominating region in the global organic
  fertilizer market, attributed to the large
  population, increasing disposable income, and
  government support for organic farming practices.
• Key players operating in the global organic
  fertilizer market include Italpollina spa, ILSA
  S.p.A, Biostar Renewables, Plantin, Sustane
  Natural Fertilizer Inc.,
• True Organic Products Inc., California
  Organic Fertilizers Inc., The Fertrell
  Company, Purely Organics LLC, Pupuk Kaltim, and
  Qingdao Sonef Chemical Co.,
• Ltd.
• In conclusion, the global organic fertilizer
  market is witnessing high growth due to
  increasing consumer preference for organic
  and chemical-free food products, growing
  adoption of sustainable agricultural
  practices, and government support for organic
  farming. The market is expected to continue its
  growth trajectory over the forecast period,
  driven by the benefits of organic fertilizers in
  improving soil health, mitigating
  environmental impacts, and enhancing crop yield
  and quality.